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New Delhi April 5 ONGC has entered into service contracts for development of 14 onshore marginal fields.

In a statement today, the company said that contracts have been signed with Hydrocarbon Resources Development, Deep Industries Ltd, BG Shirke Construction Technology, KEI-RSOS Maritime Ltd and Shiv Vani Oil and Gas Exploration.

While Hydrocarbon Resources has been offered service contract for development of Bantumilli field in Krishna Godavari (KG) Basin, Deep Industries have been roped in for development of Ghotaru, Kharatar and Bankia fields in Western Onshore Basin.

BG Shirke Construction will offer services for Manepalli field in KG Basin.

KEI-RSOS has been contracted for development of Mulikipalli, Sirikattapalli, Chintanapalli, Magatapalli and Medapadu fields in KG Basin, Vadatheru, Neyveli and Karaikal fields in Cauvery Basin.

Shiv Vani Oil and Gas has been roped in for development of Charaideo field in Assam and Assam Arakan (A&AA) Basin.

Development of marginal fields is one of the strategic business pursuits of ONGC for increasing production by unlocking small pools of discovered hydrocarbon reserves.

Out of the total 165 new and marginal fields, 44 have been monetised and about 90 fields are in the process of monetisation or being put on production.

"By this process, ONGC has initiated action to put about 96 per cent reserves of marginal fields on production in the 11th Plan period. This is expected to give additional production of about 30 MMT of O+OEG ," the statement added.

In the first phase, a total of eight onshore marginal fields were put on development through awarding of contracts to three companies in 2004.

Simultaneously, ONGC is continuing its efforts to develop new and marginal fields through in-house efforts, both in offshore and onshore.

A large number of fields has been put on production or is in the process of being developed and put on production, the company said.

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